Pradhan Mantri Matsya Kisan Samridhi Sah-yojana (PM-MKSSY) Component 1B gives aquaculture farmers a one-time incentive for buying insurance for their fish farms. This sub-scheme of Pradhan Mantri Matsya Sampada Yojana (PMMSY) is being implemented by the Department of Fisheries for four years from FY 2023-24 to FY 2026-27 with a total outlay of ₹6,000 crore. Farmers get back 40% of the insurance premium they pay, subject to a ceiling of ₹25,000 per hectare.
The main aim of Component 1B is to push more fish farmers toward aquaculture insurance so that crop losses from floods, cyclones, disease, summer kill and other risks do not wipe out their income. Applications are submitted online through the National Fisheries Digital Platform (NFDP), which the Department of Fisheries made operational on 11 September 2024. As of 10 August 2026, the scheme continues to accept applications under Component 1B through the NFDP portal.
PM-MKSSY Component 1B - One-Time Incentive for Aquaculture Insurance
Under Component 1B, the one-time incentive is paid at 40% of the premium for aquaculture insurance. For a regular pond farm, the ceiling is ₹25,000 per hectare of water spread area and the maximum amount a single farmer can get is ₹1 lakh for farms up to 4 hectares. For intensive aquaculture systems such as cage culture, Recirculatory Aquaculture System (RAS), bio-floc and raceways, the incentive is 40% of the premium with a maximum of ₹1 lakh for a unit size up to 1800 cubic metres.
Scheduled Caste (SC), Scheduled Tribe (ST) and women beneficiaries get an extra 10% incentive on top of the general category amount. The incentive is given for one crop cycle only, which means the farmer can claim it once for insurance bought for a single crop.
| Detail | Information |
|---|---|
| Scheme Name | Pradhan Mantri Matsya Kisan Samridhi Sah-yojana (PM-MKSSY) Component 1B |
| Level | Central |
| Nodal Ministry | Ministry of Fisheries, Animal Husbandry and Dairying |
| Nodal Department | Department of Fisheries |
| Scheme Period | FY 2023-24 to FY 2026-27 |
| Total Outlay | ₹6,000 crore |
| Benefit | 40% of aquaculture insurance premium, up to ₹25,000 per hectare and ₹1 lakh per farmer |
| Extra Incentive | Additional 10% for SC, ST and women farmers |
| Application Mode | Online through NFDP |
| Official Website | nfdp.dof.gov.in |
Benefits
Component 1B gives a one-time incentive against the premium paid for aquaculture insurance. For a regular pond farm, the incentive is 40% of the premium with a ceiling of ₹25,000 per hectare of water spread area. A single farmer can receive up to ₹1 lakh for a farm up to 4 hectares.
For intensive aquaculture systems like cage culture, RAS, bio-floc and raceways, the incentive is 40% of the premium with a maximum of ₹1 lakh for a unit size up to 1800 cubic metres. SC, ST and women farmers get an additional 10% incentive. The benefit is available for one crop cycle only.
| Frequency | One time (one crop cycle) |
| Incentive Rate | 40% of premium paid |
| Ceiling | ₹25,000 per hectare, up to ₹1 lakh per farmer |
| Extra for SC, ST and Women | Additional 10% |
| Transfer Method | DBT to the Aadhaar-linked bank account |
Eligibility
Farmers who want the one-time incentive under Component 1B should meet the conditions given below:
- Aquaculture farmer with a farm up to 4 hectares of water spread area, or an intensive aquaculture unit up to 1800 cubic metres.
- Registered on the National Fisheries Digital Platform (NFDP).
- Insurance policy bought for the current crop from an approved insurance company.
- Aadhaar-linked bank account for receiving the incentive through DBT.
- Proof of premium payment and the insurance policy documents.
Application Process
Applications for Component 1B are submitted online through the NFDP portal. Follow the steps below to apply:
STEP 1 - Go to the official NFDP website at nfdp.dof.gov.in and click on the register option. Enter the mobile number, verify the OTP and create a password for the account.
STEP 2 - Log in and complete the profile with details like name as per Aadhaar, Aadhaar number, bank account details and the type of aquaculture activity.
STEP 3 - Upload the required documents such as Aadhaar card, bank details and the aquaculture insurance policy with premium payment proof.
STEP 4 - Open the Component 1B section on the portal, enter the insurance policy details and submit the application for review.
STEP 5 - The Department of Fisheries checks the application through the Project Management Unit (PMU). After approval, the incentive amount is credited to the bank account.
Documents
Keep digital copies of these documents ready before starting the online application:
- Aadhaar Card.
- Bank passbook or account statement.
- Aquaculture insurance policy document.
- Premium payment receipt or proof.
- Details of the farm area or intensive aquaculture unit.
- NFDP registration acknowledgement.
- Signed self-declaration form.
References
For more details and to start the application, visit these official links:
- NFDP Official Portal
- New User Registration Page
- Components of PM-MKSSY
- PM-MKSSY Scheme Details by PIB
FAQ's
What is the incentive amount under Component 1B of PM-MKSSY?
Farmers get 40% of the aquaculture insurance premium paid, up to ₹25,000 per hectare and a maximum of ₹1 lakh per farmer for farms up to 4 hectares. SC, ST and women farmers get an additional 10%.
Who can apply for the one-time incentive?
Aquaculture farmers registered on the NFDP who have bought insurance for their current crop from an approved insurance company can apply.
Can the incentive be claimed every year?
No. The incentive is given for one crop cycle only under Component 1B.
Is the incentive available for intensive aquaculture?
Yes. Cage culture, RAS, bio-floc and raceway units up to 1800 cubic metres can get 40% of the premium, up to ₹1 lakh.
How is the incentive paid?
The amount is credited directly to the farmer's Aadhaar-linked bank account through the DBT route after approval.
Where can I apply?
Apply online through the National Fisheries Digital Platform at nfdp.dof.gov.in.
